New Report Sheds Light on Manufacturers’ Digital Transformation Journeys

Sponsored by Tata Consultancy Services, the Report from Harvard Business Review Analytic Services Highlights How Manufacturers are Focusing on Smart Products and Customer Centricity, and Moving to the B2B2C Model

MUMBAI, November 22, 2019: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, in association with Harvard Business Review Analytic Services, has released a new thought leadership report, ‘Manufacturing Next: Intelligent, Agile, Automated, and Cloud-Enabled’ that brings together insightful perspectives on the nature of the digital transformation that manufacturers are going through.

The report draws qualitative insights from academic experts who specialize in manufacturing, leading manufacturers, and analyst reports. According to the report, manufacturers have shifted focus from operational efficiency to customer centricity and lifecycle services, from traditional products to smarter ones, and from conventional B2B approaches to a more involved B2B2C model. It goes on to say that this shift requires an appetite to embrace the risk that comes with disrupting the business, significant investment, change management, and new skills and talent. Leading manufacturers are embracing digital transformation and updating their business models to stay ahead of competition.

“As traditional manufacturing firms get ready to battle with new age businesses, there is a need for them to reconstruct the traditional linear value chain into an integrated collaborative ecosystem model,” said Susheel Vasudevan, Global Head, Manufacturing and Utilities Business Group, TCS. “As a partner to some of the world's leading manufacturers, including several Fortune 500 enterprises, we are seeing this change from close quarters as we participate in their transformation and help them embrace technology-led business innovation. The TCS Business 4.0™ thought leadership framework is acting as a beacon, providing guided redirection of energy to embrace risk, and balance the business models to achieve targeted outcomes.”

About Tata Consultancy Services Ltd. (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 450,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

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